would you lend money to family or friends? I did and well.....

United States
March 24, 2011 12:36pm CST
We all know the dangers of lending money to someone close to you, especially family or friends. I've had bad experiences doing so. For example I loan some money to my friend. It was a small amount just $20, she told me that she would give it back the following weekened when she got paid. But what she did was decided to get her hair done instead of paying me back. This is where the money is no longer the issue, its the principle. So I got upset and told her about it. She ended up paying me back, put like i said, at that point it wasn't about the money anymore, it was about the principle. do you have a similiar story? or would you ever lend money to family or friends? Do share!
15 responses
• Philippines
27 Mar 11
I've been in the same situation already many times....Lending money to any of our love one is okay because we feel the urge to help them but sometimes some of them doesn't appreciate it.What's worst is they end up not paying what they asked for and when we asked them to pay, sometimes they're angry or not feel good about it. Sometimes it can also be the root of misunderstanding. Better yet before lending them the money, don't expect anymore that they will pay or give them half of the amount they needed.
• United States
29 Mar 11
I understand. But I do think if you give a reasonable amount of time, they should be able to pay you back without getting angry. But thats how family works. Because you are family, family think they can get away with much especially in the topic of lending money. But we have all learned our lesson. Thanks for sharing!
@blue65packer (11826)
• United States
27 Mar 11
I never have and never will loan money to a family member! Mostly why is I can't and never been asked! I don't make alot of money in food service! I am the one who has borrowed money from my father! I never have paid him back but when I borrow money from friends I do pay them back! My dad asked me to pay him back but I figured he is family I can't get away from it! Not the best thing to say but it is true!
• United States
29 Mar 11
I understand what you're saying, family is family and you do expect more or to get aways with things. lol thanks for sharing!
• United States
25 Mar 11
My husband and I lent money to a friend of a friend because she said that her mom needed diabetes medicines that night or she would die because her blood sugar was too high. We lent her $200 and she promised to pay it back. When we called to ask her about the money, she was conveniently never home. When we asked our friend about the money she said the girl never gave it to her to give back to us though the girl claims that she did. Needless to say, that was years ago and we have learned our lesson. Another friend would say she will give gas money to take her somewhere and then she doesn't have the money when she promised she would. We will only take her somewhere if she already has the money and can give it to us then. By the way, the first case I mentioned is an ex-friend, we want nothing to do with her.
• United States
27 Mar 11
wow, thats too bad to hear, but at least you did get rid of untrustworthy so call friends. I've always hear, be careful as to who you call your friends. Just as simple as that. Thanks for sharing, and best of luck!
@sashakiddo (1102)
• United States
25 Mar 11
I have lended money to my boyfriend because I trusted him. He paid me back, so that made me trust him even more. He's the type who always needs to borrow money and gives it back when he can. I guess there are a select few who are true to their word. We have to make sure we can trust the people we lend money to. Was it a close friend? If it was, it's hard to say how things should have been. On one side, if I borrowed a small amount from my boyfriend I might think it shouldn't matter if I don't pay him back if I really needed it, because he is so close to me. On the other hand, like you said, people should pay each other back if they say they will.
• United States
27 Mar 11
Agree, and yes it was a close friend, still it. We had our little fallen out over this manner, but we are back to where we use to be as friends. thanks for sharing!
@Janexiao (173)
• China
26 Mar 11
When i have money, i just give it to my parents and my brother and other relatives, i don't need them to give it back. because my parents have supported me about 20 years, hehe. But for my friends, of course they need to pay me back, but not in a hurry, if they said, i am so sorry, my budget is a little tight now, i will give you later, i think it's ok. However, i really don't agree with your friends behavier, she has the money, but she didn't give it to you, she is not a friend who worth you trust, so don't lend her money again
• United States
27 Mar 11
Oh, i completely agree. I will never lend her money again, thats a promise. We did get over out little fallen out over this situation. But I've learned my lesson and i will not lend money to anybody again. Now if i do decide to give money as a gift im not looking for anything in return. thats pretty much when i have it to give.
• Kuwait
25 Mar 11
yes I would, because they are family members and in this World I guess they are the only one you can depend on in your time of need,and they are the only one who truly cares for you ...
• United States
25 Mar 11
thanks for sharing!
@ellanick (191)
• Philippines
25 Mar 11
well, I am one of the people who lend money to their friends or family. i guess some people will think that we are rich and we don't need the money but who does not need the money? All of us are in need of money but the reason why I lend them is because they really needed it. And when I decided to lend them the money I already knew it that they cannot repay so I just treat it as a help to them. But I agree with you to feel upset when you lend your money to your friend and you saw that she is capable of paying you but instead she choose to have her hair done than paid you. Its not the money per se, but the principle and trust. You trust your friend to loan her the money after promising to you that she gonna paid you. But when she already have the money, she used for her personal use rather than give it back to you. I know a lot of cases like yours and sometimes the friendship has been broken because of the money issue. I guess there is nothing wrong lending some money to your friends or relatives, but be sure that they really need it otherwise don't give in to their request.
@puccagirl (7294)
• Israel
24 Mar 11
Generally, no. I might do it if someone really, really needed it. But I would really think twice before doing so.
• United States
24 Mar 11
understood, thanks for sharing!
@katie0 (5203)
• Japan
25 Mar 11
I did a lot in the past and I try not to count but I know I lost probably a thousand dollars, do I do that? No, I learned my lesson. I thought in the past when you hang out, you help and be helped that someone is actually your friend and you can trust them, but I know I even had friends that were thiefs because they might not rob in the real way but they just didn't give me back, and believe me, I wasn't rich at all, I actually struggled everytime they didn't pay back.
• United States
27 Mar 11
I understand what you mean. Its like you are lending money, expecting to get it back in a reasonable amount of time, and you don't. So now its to your disadvantage which completely sucks!
@syoti20 (5292)
• Philippines
25 Mar 11
I do lend my friends and relatives but in one condition. I always have amount limit. If they like to lend to me. They might not pay it on time. So I am the one busted. I do like to help but I also have needs.
• United States
25 Mar 11
• China
25 Mar 11
I will not lend money to my family or friends,because if I lend money to them,they did not get the money back to me.I remember one time,I lent my friend 1000dollars,but then they never see that friend,I called him,he refused the money back to me,I am very angry,so I will not borrow money To my family or friends.
• United States
25 Mar 11
$1000 usa dollars? thats a lot of money, if i were you i would have written out a promisorry note and got that "friend" to sign it, before he took $1000 of my money. At least we live and learn from our mistakes.
• India
25 Mar 11
I believe that not all the people in the world are like that. Some follow the principles and respect others' principles. Having one such bad experience should not change our mind towards helping people in cash or kind. There are good people present on the earth which are truly deserving of such kind of health.
• United States
25 Mar 11
This has not been only one bad experience. Its been at least three. Which is why i've learned i need not to lend money out anymore. Thanks for sharing!
• Philippines
25 Mar 11
yes, if I find them so needy :)
• United States
25 Mar 11
understood
@anepal (37)
25 Mar 11
Why not Unless you lose faith in them. I would lend money to my friends or family. Money are the short term need and when you die you will not take it with you. Family and friends are more important.
• United States
25 Mar 11
you must have never heard cases where a family member lends money to another family or friend and it ends their realtionship. I guess i watch to much court tv, but i'v experienced it, and you are right about the money, but for me its not about the money, its the principle.
@lynnemg (4529)
• United States
24 Mar 11
I remember loaning someone money once because this person said that they needed it to get to work the next few days. They said that they would pay me back when they got their check later that week. The week was over, the next one came and went, and the next and the next, no re-payment. A couple of months later, this same person came to me again, asking to borow money. This time, the answer was no.OF course, there was a sob story as to why I wasn't re-paid in the first place, and I knew for a fact that the story was nothing more than a lie. I don't tend to loan out money when I need it for something myself, that way, it isn't missed so much if it isn't re-paid. I don't get angry when someone borrowa money from me and cannot repay it all at once either. As long as they are making an effort, I usually don't ask that they repay it all. It is the principle of the matter that I worry about. I don't want anyone to think that I can be taken advantage of repeatedly, and when someone borrows money and doesn't even try to repay it, I feel as if they are trying to take advantage of me. I would give the shirt off of my back to someone who needs it, all I ask is that they respect me and at least make an honest effort. If they lie to me or put things they want, not need, before attempting to repay a debt, then I feel as if they are trying to take advantage of my good heart and don't really need or appreciate the help to begin with.